After selling off his company 14 months ago for $3 billion to Phillips-Van Heusen, designer Tommy Hilfiger is all set to convert Metropolitan Life clock tower into a luxury hotel after signing for a $170 million buying contract. A report from the Wall Street Journal’s website adds that the deal is unlikely to be closed in at least the next 60 days, which means that the “agreement could still fall apart”.”
The 50 stories tall MetLife clock tower that spots a gilded cupola at the top is one of the world’s tallest buildings in the world. It was sold in 2005 for $150 million to SL Green. It again changed owners in 2007, when Israeli businessman Lev Leviev purchased the tower to promise a $110 million condominium conversion deal. Still, recession struck to make the show a damp squib.
[NYTimes – Image via ScoutingNY]